The Week in Small Business – 02.12.11

We do the legwork of finding the best in small business news and links. You have more time to do what you love.

Black-Owned Businesses Tripled U.S. Growth Rate

The U.S. Census Bureau released data this week showing that the number of black-owned businesses operated in the country surged at a rate of 60.5 percent between 2002 and 2007 to 1.9 million – more than three times the national growth rate. During the same period, receipts generated by black-owned businesses grew by 55.1 percent to $137.5 billion. The recent statistics were published in the agency’s Survey of Business Owners: Black-Owned Businesses: 2007. The report is compiled every five years.

Loan Broker Dishes on Small Biz Credit

Ami Kassar, founder of financing site Multifunding, gives The New York Timesthe scoop on small business credit. Before becoming an entrepreneur himself, Kassar worked for Advanta, which was one of the country’s largest issuers of small business credit cards until it folded during the recent financial crisis.

Morgan Stanley Earmarks $500 Million for Small Business Loans

Morgan Stanley announced this week that it would commit up to $500 million in credit for small businesses. The investment bank will partner with nonprofit groups and community banks to deliver the funds via the SBA’s CDC/504 Loan Program.

Unhappy Employees? Read a Book with Them

Employee retention may not have been as big an issue with double-digit unemployment flooding the labor pool. But Deborah Cohen of Reuters finds that as hiring picks up, small business owners and managers again have to come up with creative ways to keep their top talent happy because they often don’t have the pocketbooks to compete with larger employers. My favorite? The pawnbroker who runs a book club for his staff.